New siding & trim or new windows?

Question

I just bought a duplex that I plan on renovating then refinancing. The two main renovation issues are replacing the siding & trim, and replacing the windows. I only have money for new siding and trim, or new windows. The contractor’s estimate is too high to do both. Let’s say both are in the same condition, which one would be better to do first to increase the value? Which one would also be better for curb appeal? Any advice would be extremely helpful. Thanks

Cory Lucas · Answer

@Fred Watson I’m still fairly fresh to the rental arena myself. So other seasoned investors might have a different opinion. A realtor that I worked with that has multiple rental properties himself said to me that he doesn’t do a whole lot to the outside, because that’s when your taxes seem to go up more! Keep the inside nice for the tenants, but only do what’s necessary on the outside was his philosophy￼￼

Mike McCarthy · Answer

@Fred Watson have you considered if there’s an additional cost or logistical hassle to do them separately? Depending on how bad the window frames are, if the whole frame needs to be replaced, it’s much easier to do them with the siding - instead of replacing all the window trim, and having to trim out around the siding and the window.

Fred Watson · Answer

Cory, would that theory hold true for increasing the property value? I need to refinance in 6 months and I need the property to be at its highest appraised value.

Fred Watson · Answer

Thank you for the response Theresa! Your comment actually made me think of another question. Is there a particular color or style of siding and trim that would make the property look really good?

Theresa Harris · Answer

@Fred Watson  You ask if both are in the same condition, what would you do-it depends on the condition.  If both are okay, just old; the siding and trim will give you the most impact.  If there is damage to some of the windows (ie leaking) or siding, that is a harder call.  Will you replace the siding with a similar colour and style?  If so, you could look at replacing the side with the damage and some of the damaged windows-not ideal in the long term.

Get a few quotes along with references-the cheapest quote isn't always the best.

New siding & trim or new windows?

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